Sir Nicholas Hytner, Danny Boyle, Stephen Fry and Stephen Daldry are giants in the arts world and need listening to. I agree with many of their comments at the Standard Theatre Awards. The arts do produce a clear benefit to the economy.

But I do not accept this is all at risk under the Government’s spending plans. We have worked with the Arts Council to ensure that frontline arts organisations have their budgets cut by no more than 15 per cent over the next four years. By comparison, the police budget in England and Wales has seen reductions of 20 per cent. I accept there has been a reduction in government grant-in-aid funding but what is seldom mentioned is that our reforms to the National Lottery funding formula will make up a huge amount of the difference.

Much of what we’re hearing from the arts world is close to pure fiction. Accusations that this Government neither likes nor supports the arts are disingenuous in the extreme.

As the Autumn Statement approaches, it is perhaps not surprising that the arts lobby is becoming more vocal. But my department and the Government have to consider the whole array of claims made on taxpayers’ money.

We are living in tough economic times, with a cross-party political consensus that public spending has to be reduced. Over this Parliament’s lifetime, we will still be investing some £2.9 billion in the arts. That’s a colossal amount of money. Should we have frozen, or increased, spending in this area? The taxpaying public wouldn’t wear it.

Our measures do not start and stop with direct investment; it is outrageous to claim, as Sir Nicholas recently has, that “the Government has done next to nothing to encourage philanthropy”.

What about the £100 million Catalyst Fund aimed at developing endowments and increasing institutions’ abilities to raise funds? Or our changes to inheritance tax, which will encourage legacy giving? The key to success must lie in private money complementing public investment.

This year has seen some amazing work produced in the capital and beyond, in both the publicly funded and commercial sectors. There’s no way we’re going to jeopardise the spirit or the legacy of all that. It is simply disingenuous to suggest that we are. But in the long term, the arts and theatre will benefit from a strong economy and stable public finances.